COVID didn’t shatter actuarial science: https://www.beckerspayer.com/leadership/covid-has-shattered-actuarial-science-incoming-clover-health-ceo-lays-out-his-priorities-challenges.html . Well, one of the CEO’s challenges is that he leads an insurance company and has no understanding of actuarial science. Apparently what this doofus is pointing out is that reality doesn’t always behave in accordance with trends. Does he really think actuaries don’t know that? More broadly, he’s trying to position his company as cutting edge and non-traditional. That’s fine, but you can’t do that without actuaries. Somebody has to set reserves, and it better be an actuary, as required by regulators everywhere.
US funding for flu antibody: https://www.usnews.com/news/top-news/articles/2022-10-04/vir-biotech-gets-u-s-funding-for-flu-prevention-antibody . This research parallels the development of COVID antibody drugs.
Arizona Medical Association files lawsuit asking clarification of Arizona abortion laws: https://abcnews.go.com/US/arizona-medical-association-files-lawsuit-seeking-clarity-abortion/story?id=90989866 .
Biden to nominate US Surgeon General to WHO Board: https://www.usnews.com/news/top-news/articles/2022-10-04/exclusive-biden-to-nominate-u-s-surgeon-general-to-join-who-executive-board-official .
Ex-judge opens UK COVID inquiry: https://apnews.com/article/boris-johnson-health-heather-hallett-government-and-politics-ca412e78b5ce206143e42f72d553ad4b .
WSJ: Vaccine-resistant Ebola spreads in Uganda: https://www.wsj.com/articles/vaccine-resistant-ebola-strain-spreads-in-uganda-11664889314 . WHO needs to get right on this. Ebola is a scary disease.
Nobel Prize in Physics for quantum computing technology: https://www.wsj.com/articles/nobel-physics-prize-awarded-to-trio-for-work-in-quantum-technology-11664877578 .
WSJ: Bayer turning tide in Round-Up lawsuits: https://www.wsj.com/articles/bayer-hits-courtroom-winning-streak-as-it-battles-remaining-roundup-lawsuits-11664875982 .
WSJ: Juul eyes bankruptcy: https://www.wsj.com/articles/juul-prepares-to-seek-financing-for-potential-bankruptcy-process-11664928211 .
Apple takes it in the shorts: https://www.axios.com/2022/10/04/eu-apple-phone-charger-law . WSJ: More: https://www.wsj.com/articles/apple-told-to-ditch-unique-iphone-charger-in-eu-11664893232 . I completely agree that this unique design stuff wastes resources.
WSJ: Is the US labor market starting to cool?: https://www.wsj.com/articles/job-openings-hiring-economy-august-2022-11664833689 .
Why did the Dow rise 825 points today?: https://www.investors.com/market-trend/stock-market-today/dow-jones-jumps-again-on-fed-hopes-twitter-stock-skyrockets-as-tesla-elon-musk-gives-in/ . Basically, we have the same reason as yesterday, which remains as flawed today as it was yesterday. To correct yesterday’s last paragraph, the next Fed meeting is in November, as stated in the first paragraph. As stated yesterday, the speculation is based on the situation in the UK, which is unique to the UK. WSJ: Here is another unique angle of the UK situation: https://www.wsj.com/articles/u-k-regulator-pushed-pensions-to-load-up-on-ldis-11664908870 . Also, the Credit Suisse situation is not something that would motivate the Fed to back off on fighting inflation.
Note also that Twitter stock soared as Musk reversed course and agreed to complete the acquisition. As we noted early on in the controversy, the waiver of due diligence was fatal to the attempt to back out. Apparently, his lawyers finally got that point through his thick head. This was his best choice, as the delay was doing damage to the property he was going to be forced to own. And for once, WSJ agrees: https://www.wsj.com/articles/in-twitter-musk-buys-the-walking-dead-11664918680 . More: https://www.wsj.com/articles/elon-musk-twitter-deal-tesla-spacex-11664921011 . Still more: https://www.wsj.com/articles/elon-musk-proposes-closing-twitter-deal-on-original-terms-11664901454 .
WSJ: Fed governor expects inflation fight to take time: https://www.wsj.com/articles/fed-official-says-inflation-fight-will-take-time-despite-signs-of-progress-11664898319 . The Fed cannot make it any clearer to the market – reducing inflation is their primary objective, and they will not back down without significant progress toward 2%.
WSJ: Liz Truss slips rapidly as her first policy announcement is a major misstep: https://www.wsj.com/articles/u-k-leader-liz-truss-faces-political-backlash-after-sparking-market-turmoil-11664902325 . We have been strongly critical of this tax break for the rich. But then, so has everyone else.
Ukraine exhibits its progress: https://apnews.com/article/russia-ukraine-moscow-91c46d82268b3d5210b811ba67d66d33 . For the non-actuaries out there let’s just say, the trend is your friend. UPDATE: Fresh gains in the south as Russia loses 31 tanks: https://uk.news.yahoo.com/russia-loses-31-tanks-ukraine-111900729.html . The news has been uniformly and increasingly bad for Russia. WSJ: More: https://www.wsj.com/articles/ukrainian-advance-outstrips-russian-efforts-to-mobilize-reinforcements-11664881851 .
Meanwhile, the partial mobilization has generated increasing resistance: https://news.yahoo.com/our-children-are-not-fertilizer-why-protests-in-chechnya-and-dagestan-should-trouble-moscow-172813404.html . Understandably, these cultures do not want their children to be fed to the meat grinder in a war in which they have no stake. More: https://www.wsj.com/articles/russia-touts-rapid-mobilization-but-faces-dilemma-as-ukrainians-advance-11664902438 .
WSJ: Ukrainian refugees still not home: https://www.wsj.com/articles/ukrainian-villagers-forcibly-taken-to-russia-still-havent-made-it-home-11664882149 .
Another expert suggests a tactical nuclear strike would be the end of the Russian army in Ukraine: https://news.yahoo.com/expert-if-putin-uses-nukes-us-could-wipe-out-russian-forces-in-ukraine-211607717.html .
US and South Korea respond to North Korea missile launch over Japan: https://www.cnn.com/2022/10/04/asia/us-and-south-korea-missiles-intl/index.html . However, a South Korean missile malfunctioned: https://apnews.com/article/united-states-south-korea-north-joint-chiefs-of-staff-de60a7b5b83248c549e6e65b49b4a373 . WSJ: More: https://www.wsj.com/articles/north-korea-launches-missile-over-japan-11664841929 . Still more: https://www.wsj.com/articles/north-korea-tests-worlds-resolve-by-sending-missile-over-japan-11664890236 .
Parody law comes to the Supreme Court: https://www.wsj.com/articles/the-onion-and-the-supreme-court-no-this-isnt-a-parody-11664897677 . A completely timely development, as the conservative wing of the court has made conservative thought into an oxymoron.
Herschel Walker abortion report roils his campaign: https://news.yahoo.com/herschel-walker-abortion-girlfriend-report-georgia-senate-125402826.html . WSJ: More: https://www.wsj.com/articles/herschel-walkers-georgia-senate-campaign-scrambled-by-allegations-about-past-behavior-11664912481 . Really, what is wrong with the GOP? Given the evidence of the abortion, that story has to be believed without any counterevidence. The son believes it, no problem there. And he points out that his father has 4 children by 4 different women, and was not involved in raising any of them. Walker initially did not even disclose their existence.
Walker has only two “qualifications” for office: (1) he has name recognition from his football stardom at Georgia; and (2) he has the endorsement and active promotion of Orange Julius, stemming from OJ’s failed ownership of the New Jersey Generals. How does this qualify someone as a US Senator? The comments following the article show GOP partisans urging people not to believe the media. There is hard evidence here. Unless public discourse is focused on proven facts, democracy fails.
And just as a side note, Walker’s signing with the New Jersey Generals violated NCAA rules: https://en.wikipedia.org/wiki/Chuck_Fairbanks . And that happened before OJ’s ownership. To say Walker has poor judgment understates the situation.
Meanwhile, OJ loves fruitcake: https://apnews.com/article/biden-entertainment-music-donald-trump-michigan-05bafa7cf185da9c1fd0c9e011152c0a . Fruitcake has a lot of nuts.
National Archives notified OJ of missing documents in May, 2021: https://www.nbcnews.com/politics/donald-trump/national-archives-notified-trump-lawyers-may-2021-was-missing-kim-jong-rcna50557 . So we just permanently crossed the line leaving the community of honest mistakes. This case looks much more likely to involve prosecution now.
Explosive allegations in Oath Keepers trial: https://news.yahoo.com/prosecutors-oath-keeper-leader-rioters-planned-to-violently-block-transfer-of-power-on-jan-6-233532328.html . Seditious conspiracy has a very high bar of proof. The prosecutors are working to scale the wall.
WSJ: Micron investing $100 billion in chip plant in upstate New York: https://www.wsj.com/articles/micron-to-spend-up-to-100-billion-on-chip-factory-in-new-york-11664893884 . Clay is a suburb of Syracuse.
Portland Thorns owner, two executives step aside as Gates report rumbles through women’s soccer: https://frontofficesports.com/portland-thorns-owner-two-execs-sidelined-after-u-s-soccer-report/ . This is a dark day for Soccer City.
Aaron Judge hits #62!: https://news.yahoo.com/yankees-star-aaron-judge-surpasses-roger-maris-with-62nd-homer-logging-greatest-mlb-power-season-since-steroid-era-001059883.html . Judge’s homer sets what is generally considered to be the record for non-steroid-assisted homers. So for many (including me), this is the new record. And here it is: https://www.mlb.com/video/aaron-judge-homers-62-on-a-fly-ball-to-left-field-x6566 .
Meanwhile, WSJ is still on drugs: https://www.wsj.com/articles/aaron-judge-62-home-runs-roger-maris-11664580720 . Ugh …
WSJ: Chess’ “steroid” scandal: https://www.wsj.com/articles/chess-cheating-hans-niemann-report-magnus-carlsen-11664911524 . Not only can computers outplay humans, they can help detect human cheating. This reminds me of HAL in “2001: A Space Odyssey”. The letters which follow H, A, L, are of course I, B, M.
Loretta Lynn passes at 90: https://www.cnn.com/2022/10/04/entertainment/loretta-lynn-obit/index.html . This newsletter contains passings several times a week. But this one made me aware that almost all of these passings are people who lived the American Dream, in their own individualized version. WSJ: More: https://www.wsj.com/articles/loretta-lynn-death-coal-miners-daughter-singer-11664896296 .